Indiana vs Michigan: two economies side by side

Indiana and Michigan share a border. Here are the two economies on the same measures, with the rank of each among 51 states and DC.

Great LakesIndiana leads on 7, Michigan on 4 of 11 measures

Indicator	A · IN	B · MI	Ranks
GDP, 2025	$542.5B	$733.9B	19 · 14
Real GDP growth, 2025	+1.9%	+2.2%	28 · 20
Real growth a year since 2015	+2.2%	+1.6%	23 · 32
GDP per person	$77,790	$72,462	34 · 40
Income per person, 2025	$66,455	$67,245	40 · 39
Real income per person (2017 $)	$55,562	$53,569	36 · 41
Price level (US = 100)	93.3	96.2	34 · 28
Housing costs (US = 100)	73.9	82.3	36 · 29
Unemployment, September 2026	3.4%	5.0%	14 · 47
Population	6,973,333	10,127,884	17 · 10
Population growth a year since 2020	+0.53%	+0.11%	25 · 41

Highlighted: the higher value, or the lower one for prices and unemployment. BEA (GDP, income, price parities), BLS (unemployment).

Fig. 1Real GDP, index 2015 = 100Chained 2017 dollars

IndianaMichigan

Fig. 2Unemployment rateMonthly, seasonally adjusted, since 2015

IndianaMichigan

Industry mix, 2025

Share of each state’s GDP. Sorted by the gap between the two.

Industry	IN	MI	Gap, pp	Larger in
Manufacturing	23.8%	15.4%	8.4	IN
Real estate	10.8%	13.7%	2.9	MI
Professional services	5.1%	7.9%	2.8	MI
Government	8.3%	10.0%	1.8	MI
Wholesale trade	6.4%	7.6%	1.2	MI
Information	1.6%	2.8%	1.2	MI
Construction	5.2%	4.2%	1.0	IN
Retail trade	5.8%	6.7%	0.9	MI
Transportation & warehousing	3.7%	2.9%	0.8	IN
Management of companies	1.1%	1.8%	0.7	MI
Agriculture	1.3%	0.8%	0.5	IN
Finance & insurance	6.2%	5.8%	0.5	IN
Administrative & waste services	2.7%	3.0%	0.3	MI
Education	1.0%	0.7%	0.2	IN
Arts & recreation	1.1%	0.9%	0.2	IN
Other services	2.2%	2.4%	0.1	MI
Mining, oil & gas	0.3%	0.2%	0.1	IN
Accommodation & food	2.9%	2.9%	0.0
Health care	8.4%	8.4%	0.0
Utilities	1.9%	1.9%	0.0